Deputy PM confident economy recovering

BANGKOK, May 21 (TNA) -- Deputy Prime Minister Somkid Jatusripitak said that GDP for the first quarter of this year grew by 4.8 per cent which bodes well for the economy for the latter part of the year. This in turn will significantly bolster both foreign and domestic investor confidence. The 4.8 per cent growth in GDP for the first quarter, said Mr Somkid, represents the highest during the past 20 quarters for the country and is the result of the government's cultivation of reforms and development programs. Mr Somkid stated that all the efforts exerted by government is beginning to impact all sectors of the economy from exports, tourism, agriculture and others. Sustained investments in major public infrastructure projects in turn will help fortify these developments. Many of these programs, including the electric rail network, will promote even greater confidence in the private sector as an effective rail system has a direct impact on the real estate sector. Other sectors will then reap the benefits and enjoy similar growths. Mr Somkid closed by asking everyone to help in maintaining the peace so that the reforms can take hold to sustain long-term growth. (TNA)